Fed Chair Powell says economy faces 'new challenges' from virus

Fed’s 2nd most powerful voice says there’s no limit to Fed’s balance sheet bloat Federal Reserve Vice Chairman Richard Clarida discusses economic stimulus, sustaining the flow of credit in the country, opening new facilities, the Fed’s balance sheet and adjusting interest rates. Federal Reserve Chairman Jerome Powell said the reopening of the U.S. economy — and the accompanying upturn in […]

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Alert for firms as masks with a KN95 rating trigger safety warning

So far 1.5 million have been withdrawn from the market. Safety bosses and Trading Standards are alerting businesses and the public to the risk after widespread concern. The KN95 performance rating relies on manufacturers saying they are compliant. There is no independent verification that the products comply with the standard, according to the Health and Safety Executive. It reports that […]

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UK house prices plunge to 10-year low – but new hope for housing market

Figures published by the Royal Institution of Chartered Surveyors (RICS) show its headline house price balance has slumped to -32 percent in May. This is the lowest reading since 2010. April figures showed a smaller decline of -22 percent. Although RICS said the near-term sales expectations were now broadly neutral, the 12-month outlook has improved. Robert Gardner, the Nationwide’s chief economist, […]

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Russian economy to contract amid coronavirus

Trump: US likely to pull out of deal with Russia President Trump discusses U.S.-Russia relations. Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Continue Reading Below Russia’s economy is on track to shrink by 5% in 2020 and the rouble will remain weak as the novel coronavirus pandemic and low oil prices […]

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Shocking new figures show half of Britain is paid by Government funding

Chancellor Rishi Sunak has warned the state help is not sustainable as it could soon cost as much as the NHS. Official data shows that 27 million workers are being funded by the Government that was introduced to support businesses during the coronavirus outbreak. Of those 27 million Britons, some are being paid through their employer’s furlough scheme claim and some […]

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